Belarus to extend Geely car lending program – premier
<p> MINSK, Oct 15 - PrimePress. The special credit programme to finance purchases of domestically-produced Geely cars will continue into 2022, Belarusian Prime Minister Roman Golovchenko said during a working trip to Borisov District on 15 October. </p> <p> </p> <p> “Next year, this programme will definitely be continued. Now the interest on the loan is actually below the inflation rate. Everything else is compensated by the state. This is a normal practice in many countries. For example, Russia partially subsidizes the down payment to promote sales of domestically produced cars,” Golovchenko said. </p> <p> </p> <p> The prime minister noted that the interest rates on loans are very comfortable. In particular, thanks to this, Geely is the second best-selling car brand in Belarus. </p> <p> </p> <p> Golovchenko referred to BelGee as one of the country’s most successful industrial projects. “Today it is a high-tech manufacture, which uses modern equipment, industrial robots. The production output is constantly increasing. Last year the factory produced 20,000 cars. This year the forecast is at least 30,000 cars. Next year the plant is expected to make 40,000 cars. This means the plant needs to switch to a two-shift mode and is in need of more qualified personnel,” he said. </p> <p> </p> <p> In his words, the company has a good local content index, which stands at 52%, and posts good sales. “Previously we targeted mostly the domestic market. Today the bulk of vehicles goes to the Russian Federation,” said Golovchenko. </p> <p> </p> <p> BelGee CEO Gennady Svidersky noted that the company has been focused on exports in 2021. “While the production volume has increased by 1.5 times, the export volume has doubled. As of today, we have $270 million worth of exports and about $100 million worth of goods were shipped to the domestic market,” he said. </p> <p> </p> <p> As previously reported, Belarusbank’s Geely car purchase loans are available at 9.25-16.5% per annum, Belagroprombank - 9-15.75% per annum, BPS-Sberbank - 9-15% per annum with a grace period. Svidersky said that in 2020, 80% of Geely car sales were made using credit and leasing programs. </p> <p> </p> <p> The Belarus-China Joint Venture BelGee, which manufactures passenger cars under the BelGee brand, launched a completely knocked-down car assembly plant (CKD assembly) in Borisov (a town in Minsk Oblast, 70km from Minsk City) in Nov 2017. The car plant occupies an area of 118 ha, and has the capacity to make 60,000 cars per year. The new BelGee plant can potentially employ 1,300 workers when it starts operating at full capacity. The total value of the project is around €400 million, which was partially covered with China’s $158.7m credit. The company assembles the Geely Atlas, Emgrand X7 New and Coolray crossovers and the Geely Emgrand 7 New sedan and the Geely GS cross hatchback. End </p>
2021-10-16
Primepress
Belarus to extend Geely car lending program – premier
MINSK, Oct 15 - PrimePress. The special credit programme to finance purchases of domestically-produced Geely cars will continue into 2022, Belarusian Prime Minister Roman Golovchenko said during a working trip to Borisov District on 15 October.
“Next year, this programme will definitely be continued. Now the interest on the loan is actually below the inflation rate. Everything else is compensated by the state. This is a normal practice in many countries. For example, Russia partially subsidizes the down payment to promote sales of domestically produced cars,” Golovchenko said.
The prime minister noted that the interest rates on loans are very comfortable. In particular, thanks to this, Geely is the second best-selling car brand in Belarus.
Golovchenko referred to BelGee as one of the country’s most successful industrial projects. “Today it is a high-tech manufacture, which uses modern equipment, industrial robots. The production output is constantly increasing. Last year the factory produced 20,000 cars. This year the forecast is at least 30,000 cars. Next year the plant is expected to make 40,000 cars. This means the plant needs to switch to a two-shift mode and is in need of more qualified personnel,” he said.
In his words, the company has a good local content index, which stands at 52%, and posts good sales. “Previously we targeted mostly the domestic market. Today the bulk of vehicles goes to the Russian Federation,” said Golovchenko.
BelGee CEO Gennady Svidersky noted that the company has been focused on exports in 2021. “While the production volume has increased by 1.5 times, the export volume has doubled. As of today, we have $270 million worth of exports and about $100 million worth of goods were shipped to the domestic market,” he said.
As previously reported, Belarusbank’s Geely car purchase loans are available at 9.25-16.5% per annum, Belagroprombank - 9-15.75% per annum, BPS-Sberbank - 9-15% per annum with a grace period. Svidersky said that in 2020, 80% of Geely car sales were made using credit and leasing programs.
The Belarus-China Joint Venture BelGee, which manufactures passenger cars under the BelGee brand, launched a completely knocked-down car assembly plant (CKD assembly) in Borisov (a town in Minsk Oblast, 70km from Minsk City) in Nov 2017. The car plant occupies an area of 118 ha, and has the capacity to make 60,000 cars per year. The new BelGee plant can potentially employ 1,300 workers when it starts operating at full capacity. The total value of the project is around €400 million, which was partially covered with China’s $158.7m credit. The company assembles the Geely Atlas, Emgrand X7 New and Coolray crossovers and the Geely Emgrand 7 New sedan and the Geely GS cross hatchback. End